Survey respondents see U.S. eventually with one-day trade settlement standard

Seventy-eight percent of buy-side, sell-side and custodian respondents to an SS&C Technologies Holdings survey either expect the U.S. to eventually move to T+1 settlement or think such a move is possible.

The survey of representatives of 50 firms showed that 42% of respondents believed the U.S. willmove to the one-day trade settlement standard from T+2, which is scheduled to begin Sept. 5, 2017.

Another 36% said the U.S. could move to T+1 if the transition to T+2 over the next 15 months goes smoothly, according to the survey results.

Also, 72% said they are already assessing their technology preparedness for T+2, while 66% have begun assessing their operational preparedness.

Twenty-five survey respondents were with buy-side firms, 19 were with custodians and six were from sell-side firms.

SS&C conducted the survey during the International Securities Association for Institutional Trade Communication Industry Forum and Vendor Show in Boston on March 20-23.